The world's fastest-rising commodity has been named

Tengrinews.kz — Cocoa was the world’s biggest price gainer in August, while cobalt hydroxide posted the sharpest decline, according to data from ICE Futures, CME Group and the Shanghai Metals Exchange analyzed by RIA Novosti.

Cocoa prices rose by 28.22 percent over the month. Among other food commodities, sugar also increased significantly, by 19.87 percent, while wheat rose by 17.11 percent.

Meanwhile, the biggest declines among food products were recorded for orange juice, down 6.42 percent, coffee, down 3.97 percent, and tea, down 3.94 percent.

Among industrial commodities and metals, bitumen posted the strongest increase on the Chinese exchange, rising 21.25 percent, followed by silver at 15.96 percent. This category also included August’s biggest overall loser, cobalt hydroxide, which fell by 16.75 percent.

Among fuel and energy commodities, methanol recorded the largest increase on the Chinese market, rising 21.36 percent over the month. European natural gas also gained significantly, by 21.12 percent, while coal on the U.S. market rose by 19.21 percent. Urals crude oil posted the sharpest decline, falling by 8.67 percent.